Business news

Growth grants grow in popularity

A PROGRAMME to support business growth has been welcomed by a York accountant who is urging local firms to take advantage of the grant scheme.

Terry Doyle, a partner at accountants and business advisers Clive Owen & Co, said the recently launched Business Growth Programme was attracting a “huge amount” of interest from businesses in York and the surrounding areas.

The scheme, which is administered by the York, North Yorkshire and East Riding Local Enterprise Partnership (LEP), offers growing businesses with fewer than 250 employees grants of up to 20 per cent of capital expenditure, and potentially more for research and development costs. Part of the £3.2 billion Regional Growth Fund, The regional programme has a total of £3.8 million to award to eligible businesses. within the areas covered by the LEP.

In return for the grant support, businesses have to commit to generating sustainable new jobs within the region.

Mr Doyle said: “The scheme has introduced a new source of finance for businesses in the region, as traditionally there has been very little grant support available within the LEP’s area.”

The availability of the scheme has enabled Clive Owen & Co’s grants and state aid specialist, Neville Baldry, who is normally based in the firm’s Darlington office, to spend more time advising York based clients.